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Year End Processes Webinar

12/28/2022 - 11:19:10 AM

Online EBMS Training Event recorded on Thursday, December 8th, 2022.

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In this webinar, Dorothy gives us an overview of the year end processes for EBMS users



Positions that may find this session helpful: EBMS Admins, Bookkeepers, Accountants


What is the reason for not allowing an open pay period for last year and the current year?

This may also be a design answer, but from the perspective of payroll taxes and payment processes you would only want one year open at a time so you can complete that year with the current tax rates before you update to the next year's tax rates.

Will the 940 summary report be updated to show payments exempt from FUTA from payment in excess of employees?

The 940 Summary Report does show the exempt wages or wages in excess of the first 7000.00 of wages. Please reach out to our support team if you need further assistance with this.

Will having purchase orders from 2021 cause any issues since the year is closed?

Having 2021 purchase orders will allow you to close the year and open 2023, however its advised to go through old ones and make sure they are in the correct status of still being a purchase order. If it does need to be processed it should be processed into an invoice with a 2022 or 2023 date.

Does EBMS know how to properly code Shareholder Health Insurance deductions and apply to box 14 of the W2?

If you create a deduction for the Health Insurance and have it as a section 125 type it will go into box 14 of the W2 - if the Shareholder is getting wages processed through payroll.

What report should we use to reflect the taxable income if we do have pretax deductions, since we should not use the employee earnings record report?

The 941 Summary Report is the best report to use for any taxable wage reporting. It will have only what is taxable and the tax amounts for any tax or deduction that is set up. This is found under Reports > Labor > Taxes > 941 Summary.


The Eagle Support Team
717-442-3247 x2


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